The paper "Export and Import between Countries" is a good example of a macro & microeconomics case study. With the rise of globalization, international trade has been growing. Globalization refers to the increase in interdependence among countries due to a rise in trade integration, cash flow, and views that are carried out in the global marketplace. Due to the integration of different countries, cross-border trade is enabled. Globalization increased at a fast rate in the mid-1980s driven by technological development and an increase in market liberalization. Most of the countries’ economies have benefited immensely from globalization such as the East Asian economies.
As the countries participate in global trade, there are costs and benefits. The countries are also able to benefit from the access to a larger market and international division of labor (Czinkota, Ronkainen & Moffett 31). Consumers are able to enjoy goods at reduced prices due to imports among other benefits. Despite the benefits, there are risks in international trade such as increased competition. Australia has been participating in international trade for a long time. The participation has resulted in benefits and risks for the country (Folsom 20).
This report will look at the challenges of doing business in the global environment with a focus on imports and exports. Issues that will be addressed are globalization, international trade in Australia, terms of trade, customs in Australia, exchange rate and Australia trading partners. The report will use peer-reviewed journals, government websites and other academic sources to address the impacts with reference to Australia. Globalization and international trade Globalization has led to an increase in international trade. The statistics have shown that the trade has been growing in the favor of developed and developing countries.
The share of the exports from the developed countries to developing countries has been growing. Most of the developing countries have been increasing their trade in the manufactured goods as exports to the developed countries. Due to globalization, there is unrestricted access to the markets.
Australian Customs Service, Customs Guide to Importing and Exporting, Australian Customs Service, 2014. Http://www.arts.qld.gov.au/publications/pdf/ex_im_ex.pdf. 1st Sep 2014.
Czinkota, Michael, Ronkainen, Iikka & Moffett, Michael. International Business. Mason, OH: Thomson-South-Western, 2003. Print.
Export Council of Australia. Australia’s International Business Survey: 2014 Report, 2014. http://sydney.edu.au/business/__data/assets/pdf_file/0015/201651/AIBS_2014_Report.pd f. 1st Sept 2014.
Folsom, Ralph., Gordon, Michael. & Spanogle, John. International Business Transactions and Economic Relations. St. Paul, MN: Thomson, 2005. Print.
Nelson, Carl. Import Export: How to Get Started in International Trade. New York: McGraw- Hill, 2000. Print.